Welcome to the PT Partners Blog

News, views and real perspectives.

Be Aware of Scammers Impersonating the ATO

written by:
Darren Hagarty


Many Australians believe they would never fall victim to a scam and could confidently spot one or know what to do if they were targeted. However, scammers are becoming more sophisticated in their attempts to trick people into paying money or providing personal information. We are seeing an increasing incidence of scammers purporting to be from the ATO. In the wake of Scams Awareness Week (12–16 August), please know that…

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Accommodation Sharing and Tax

written by:
Josh McMullen


The sharing economy provides a great opportunity for individuals with spare rooms or spare entire properties to rent out space and earn rental income using facilitators such as Airbnb. Indeed, in 2017, approximately 2.1 million individuals reported rental income of $42 billion. This comes as the ATO announces a new data-matching program specifically targeting around 190,000 taxpayers receiving income from short-term rentals. The ATO said it would examine the information…

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The Federal Election Tax Washup

written by:
Josh McMullen


With the Government being returned at the recent Federal Election, we look at what this means from a tax perspective. BUSINESS Instant Asset Write-Off Boosted and Expanded With the Government winning, the major depreciation reform that was implemented just prior to the Election will remain in place. That is, going forward, new purchases from 2 April 2019 of business-related assets up to $30,000 (up from $25,000) can be written off…

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Federal Budget 2019 – What You Need To Know

written by:
Josh McMullen


The 2019 Federal Budget was handed down on Tuesday 2 April. Following is a summary of the headline measures. BUSINESS TAX CHANGES Instant Asset Write-Off Boosted and Expanded – Two key changes have been made. Firstly, the write-off has been extended to medium-sized businesses (those with an aggregated annual turnover of less than $50 million). Secondly, the threshold has been increased to $30,000. Therefore, subject to legislation, businesses with an…

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Single Touch Payroll – A New Way to Report

written by:
Josh McMullen


In the biggest change to employer payroll reporting since the introduction of Activity Statements, all employers will very soon be required to comply with the new Single Touch Payroll (STP) regime. STP is a new Government initiative aimed at streamlining employer payroll reporting obligations. The STP regime revolutionises the way employers report payroll information to the ATO. In essence, STP is a new reporting mechanism whereby each time an employer…

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Superannuation Amnesty for Employers

written by:
Darren Hagarty


The Australian Taxation Office (ATO) are continuing to target employers who aren’t paying the full and correct amount of superannuation guarantee for their employees. In addition to the ATO ramping up their compliance activities, there is also proposed legislation which will contain harsher repercussions for affected employers, including the requirement to undergo education, the issuing of payment directions to the employer or company directors personally, and even the threat of imprisonment. However, there is…

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